Shares of Adani Enterprises saw a block deal worth Rs 1,831.82 crore on Wednesday. The block deal comprised Envestcom Holding RSC buying a 0.73% stake in the Adani Group's flagship firm at an average price of Rs 2,168.1 per share. Abu Dhabi-based IHC Capital Holding, via its subsidiaries Green Energy Investment Holding RSC and Green Vitality RSC, offloaded the stake at the same price.
Adani Enterprises stock ended 4.57% higher at Rs 2244.85 on Wednesday. Market cap of the firm stood at Rs 2.59 lakh crore on BSE. Total 85.80 lakh shares changed hands amounting to a turnover of Rs 1,860.92 crore on BSE.
Adani Enterprises stock has a one-year beta of 2, indicating very high volatility during the period.
In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at 51.9, signaling it's trading neither in the oversold nor in the overbought zone. The stock is trading higher than the 5 day, 10 day, 20 day, 30 day and lower than the 50 day, 100 day, 150 day and 200 day moving averages. The stock has fallen 12.17 per cent this year and risen 19.45% in two years.
Adani Enterprises reported a 96.9 per cent fall in its consolidated net profit for the third quarter (Q3) of the financial year 2024-25 (FY25) at Rs 57.83 crore against Rs 1,888.45 crore reported during the same period last year. The sharp fall was attributed to underperformance in the company’s coal trading division.
Total expenses slipped marginally by 1 per cent Y-o-Y to Rs 22,924.98 crore in Q3 from Rs 23,180.79 crore. Sequentially, expenses for the Adani entity climbed 10.3 per cent from Rs 20,787.29 crore.